BNP Paribas in Exclusive Talks to Take on Orange Bank Clients
A BNP Paribas SA bank branch in Paris.
Photographer: Nathan Laine/BloombergThis article is for subscribers only.
BNP Paribas SA is entering in exclusive talks with Orange SA to take on its Orange Bank clients, letting the French mobile phone carrier walk away from the business.
Orange will work with the French lender on conditions for on-boarding its 2 million banking clients in Europe, the carrier said in a statement Wednesday. The partnership is part of Orange’s plan to progressively withdraw Orange Bank from the retail banking market in France and Spain, according to the statement. The Paris-based company said it’s leaving its financial guidance for 2023 unchanged.